Trucking company Schneider National pursues IPO

I would guess the "stake holders" from the early 90's are looking at their estate plans. From my limited understanding of corporate regulations the way SNI is setup precludes dividing ownership to multiple heirs. There are limits to the number of shareholders in private corporations, and limits to who and under what circumstances those shareholders are allowed to sell. If you were part of SNI's growth thru the 80's and early 90's then you are approaching retirement and death age. Thus you need to be looking out for your own interests and the interests of your heirs. Going public allows them to cash out. I would guess that there is more than a few of the stake holders in this camp.

Add to it Lofgren's greed, the children's absence from any significant day to day role, the lack of any transportation company going public, and the massive amount of cash reserves of investment houses (see the article @mickeyrat posted a few weeks ago) and there you have it. I think they're wrong to do it, but my opinion is from the cheap seats.

 

Speculation (see rumor) is that it will allow the family to ensure 51% controlling stock, grow the company, and in 5 to 10 years after the company gets much larger go back private, putting mucho denero in the family coffers.

Just water cooler talk.

 

But going public is like riding a tiger. When you got on you had a plan on how to get off. When you're ready to dismount, the tiger ends up having other plans.

 

I don't see it as the "family" wanting the trucking side to grow, I see it as a way to dump the trucking side and keep the logistics side.

It will be interesting to see what parts of SNI are offered in the IPO.

Just the trucking or the whole enchilada.

Now I'm hungry....

 

If they actually pull that off I'll be impressed. Yes SNI, this load is totally paying $1.05 a mile, thanks have a nice day!

 

Anyone heard any other info on this topic?

I've got a little info but can't share it yet, not juicy just bland.

If only trucking companies weren't so honest!!!#

 

#emploeeowned!!!

 

It's pretty much SOP for employees to be offered the opportunity to participate in the IPO and purchase shares at the initial offer price ... ICs, on the other hand, if they are allowed to participate at all, will be as "friends of the company".

 

Last information I heard was the paperwork to go public has been filed with the government but not yet approved.

Also, some employees who in the past were not part of the company profit sharing program are now as of jan 1.